SINGAPORE — Micron Technology, the largest US maker of memory chips, has commenced layoffs in Singapore after announcing that it would reduce its global workforce by 10%.
Established in 1998, Micron Technology has over 9,000 employees in Singapore.
In 2019, Micron completed the expansion of its wafer fabrication facility in Woodlands, and promised to add a further 1,500 jobs for its Singapore operations over the next few years.
However, the Semiconductor giant has been affected by the sharp decline in global chip demand recently.
Micron chief executive officer Sanjay Mehrotra said the semiconductor industry is experiencing its worst imbalance between supply and demand in 13 years.
In response, Micron revealed cost-cutting measures in 12 December last year, including the reduction of its global workforce by about 10%, and limiting capital expenditures in fiscal years 2023 and 2024, as well as cutting operating costs, salaries, bonuses, and stock repurchases in fiscal year 2023.
Micron has begun laying off workers globally wide this month.
S-Pass will be terminated on 28th February
Local Chinese media Lianhe Zaobao reported that one of the employees of Micron Technology in Singapore posted on social media, claiming that the company had started its layoffs.
The employee said these retrenched employees were reportedly colleagues with relatively junior qualifications, and the layoff operation is expected to last until 18 February.
When asked by Lianhe Zaobao, Micron’s spokesperson in Singapore, declined to disclose the number of employees affected or other details.
An Indian S-Pass holder also shared in a Facebook group on 9 February that he was retrenched from Micron Technology.
The netizen goes by the name Avdhesh said he graduated as master in Material Science specialization from the Indian Institute of Technology(IIT) Bombay last year. He started as a Process Integration Engineer role in Micron Technology in September.
“But because of current downturn situation, (I) got laid-off yesterday(8 February) due to company financial issue as they mentioned, and now I’m blank what to do next, as now I left only few days here,” said Mr Avdhesh.
He added that his S-Pass would be terminated on 28th February by the company, and asking his fellow group members to give advice or recommendation on job careers which match his skillsets.
The S Pass allows mid-level skilled staff to work in Singapore. Candidates need to earn at least $3,000 a month, according to the Ministry of Manpower Singapore.
